B2B payments app Rupifi raises $25M from Bessemer, Tiger Global and others

Italians predict culture on sale at $533 million home auction

Rupifi co-founder and chief executive Anubhav Jain said that with this investment from Bessemer and Tiger Global, we plan to build further towards our goal of disrupting B2B payments and transactions.

Business-to-business (B2B)- focused payments application Rupifi has raised $25 million (about Rs 180 crore ) in a series-A round funding, drove by Bessemer Venture Partners and Tiger Global. Existing investors Quona Capital and Ankur Capital additionally partaken in the funding round, alongside Better Capital, the organization said in an assertion on Friday. The organization was established in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal. The most recent funding is Rupifi’s second investment round inside nine months, since the pre-series-A round in March 2021.

Its B2B BNPL (buy-now-pay-later) is currently operating across sectors, such as FMCG, pharma, fashion, electronics, agriculture and food, while SME focused commercial card provides flexibility to manage expenses without any cost for shorter periods, he said.

With the latest funding, we are now moving towards building the complete B2B checkout product for marketplaces and omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers, he added.

Rupifi started with the B2B BNPL product, focusing on the digital B2B marketplaces in mid-2020.

Despite the subdued economic activity, it has managed to record 50 per cent monthly growth in disbursals in the last 12 months, covering over 50,000 SMEs that work with some marquee marketplaces like Flipkart Wholesale, Retailio and Fynd, among others.

Vishal Gupta of Bessemer said B2B payments and B2B credit are large problems with technology being the future to solve these, and the Rupifi team is building around that, keeping the SMEs at the core.

In the USD 1-trillion B2B commerce and payments space in the country, Rupifi has demonstrated rapid growth and proven product leadership, said John Curtius of Tiger Global.

Rupifi’s technology platform brings B2B marketplaces and financial institutions together to enable low-friction credit for a wide range of small businesses at the point-of-sale stage. For SMEs, Rupifi offers fully digital touchpoints and real-time decision-making from onboarding, application decision-making, real-time transaction to repayment reconciliations.

Rupifi claims to be the first embedded finance provider to FMCG, food, pharma, fashion, electronics, agriculture and general merchandise, offering them flexible and no-EMI credit.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
What is COVID data telling us?  |  local news
What is COVID data telling us? | local news
Case counts trending down So what do scientists have to say about COVID cases, hospitalizations and our future with COVID? Cases appear to be trending down but ...
The Federal Reserve's aggressive stance aims to keep the yellow metal under pressure
The Federal Reserve’s aggressive stance aims to keep the yellow metal under pressure
Comex gold was trading 0.8 percent lower near $1,814 a troy ounce after a 1.2 percent decline the previous day. Gold has weakened as US dollar and bond ...
The 10 Oldest Xbox Games Available for Series X|S
The 10 Oldest Xbox Games Available for Series X|S
A hunter battles a horde of zombies in Hunter: The Reckoning Hunter: The Reckoning originates from the World Of Darkness tabletop role-playing franchise, and ...
On Windows, you may now download games from the Play Store
On Windows, you may now download games from the Play Store
Play Store now lets you download games on Windows. In any case, the chances are that you don’t have that extra button on your Google Play store as the ...
Kissht raises Rs 100 cr in funding led by Trifecta Capital, Northern Arc
Kissht raises Rs 100 cr in funding led by Trifecta Capital, Northern Arc
The company will utilise the funds to expand its scale of operations, enhance its product offerings including credit cards for small business/shops and ...
Chip shortage drives UK car production to a minimum after 1956
Chip shortage drives UK car production to a minimum after 1956
“Overall, this was a deeply depressing year,” SMMT chief executive Mike Hawes told reporters. “The impact of the semiconductors really hit home hard in the ...
3 reasons not to retire at age 65 |  personal finances
3 reasons not to retire at age 65 | personal finances
Americans are living longer these days, and if you retire in your mid-60s, you could end up with many years of retirement ahead of you. And while you can ...
Last year, AT&T added more phone subscribers than the previous ten years combined.
Last year, AT&T added more phone subscribers than the previous ten years combined.
Chief executive John Stankey attributes that strong growth to AT&T’s network performance. It was also bolstered, in part, by deals offering free iPhones ...
How Brazil is reforming a public fund to finance broadband expansion
Stockton wants to rebrand itself as a ‘business-friendly city’
The plan focuses on rebranding the city, supporting small businesses and attracting new business to the area.  “Telling our story, our rich history here in the ...
Future Enterprises agrees to sell stake in insurance JV to Generali
Future Enterprises agrees to sell stake in insurance JV to Generali
FGIICL is a joint venture between Future Enterprises and Generali Participations Netherlands NV (Generali). “FEL has agreed to sell a 25 per cent stake in ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo